Abu Dhabi’s state-owned oil firm, ADNOC, has agreed to acquire German chemical giant Covestro for €14.7 billion ($16.4 billion), marking a significant move in ADNOC’s international growth strategy.

At closing of the takeover, Covestro stands to receive a multi-billion-euro capital increase. For chief financial officer ...

Abu Dhabi National Oil Company (ADNOC) is moving closer to its acquisition of Germany-based Covestro AG (DE:1COV). According to the Financial Times, ADNOC is expected to make its formal offer for ...

The acquisition, announced in fall 2024, calls for an $18 billion purchase price that includes $68-a-share and an investment ...

One market analyst sees several benefits to Abu Dhabi National Oil Co.'s $13 billion proposal to buy materials giant Covestro AG. Phil Karig said that with Adnoc agreeing to support Covestro's ...

'Our aligned strategies uniquely position us to meet the growing global demand for energy and chemical products, while accelerating the transition to a circular economy'. Image by Totojang via iStock ...

Covestro AG has entered into "concrete negotiations" that could result in the German materials firm being acquired by Abu Dhabi National Oil Co. (ADNOC). Covestro also announced cost cutting measures, ...

's state-owned oil firm ADNOC on Tuesday said it has agreed to buy German chemicals firm Covestro for 14.7 billion euros ($16.4 billion). ADNOC, short for the Abu Dhabi National Oil Company, will ...

The year-long efforts of Abu Dhabi National Oil Company (ADNOC) to acquire German chemicals firm Covestro moved a step closer to a successful conclusion after Covestro said on Monday it had decided to ...

ADNOC is going through a due diligence process that could result in them committing to buying Covestro. There is a deal spread that speculators could make. Performance is pressured by deflation in ...

Covestro AG (Leverkusen, Germany), a manufacturer of high-quality polymer materials and their components, has signed an investment agreement with the Abu Dhabi National Oil Co. (ADNOC) Group (United ...

Abu Dhabi National Oil Co. reached a deal to buy chemical producer Covestro AG for about €11.7 billion ($13 billion), in what’s set to be the biggest Middle Eastern acquisition of a European firm. The ...